EcoFinance
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EcoFinance

Welcome To The World Of EcoFi

EcoFi is an open-source, permissionless, and censorship-resistant protocol built to power safe and responsible innovation in the Decentralized Finance (DeFi) space.

The EcoFi founders are cryptocurrency ecosystem pioneers, masters of art, cinema, and networking experts who know how to engage a global audience. The tenets of the EcoFi distribution mechanism are based upon the premise that value should be shared equitably among systemwide participants. To bring this ethos into reality, EcoFi designed the ECO token.

Planting ECO to earn SPRT

ECO tokens are an Ethereum based ERC20 token. Only 10,000,000 ECO tokens will ever exist. ECO tokens were available to EcoFi early adopters who interacted with the platform until contract closure during Q4 2020.

ECO token holders are given the option to stake their tokens for a minimum of three months to earn a predictable yield of SPRT tokens. The generation reward is as follows:

  • A minimum 90 day lockup is required
  • ECO stakers receive a flat 200% annual return in SPRT tokens
  • ECO stakers see a linearly increasing annual generation bonus, reaching 100% after 20 years
  • Lockup times and applicable bonuses reset on any deposit
  • Partial withdrawal of ECO is allowed without penalizing generation bonus of the remaining staked amount

The EcoFi platform is designed to reward participants via a Community Reserve Balance system. The greater the systemwide earnings are, the more value is distributed to members of the community. SPRT tokens are distributed along the lines of this framework:

  • 90% goes to the user
  • 5% goes to the EcoFi platform to cover operational costs
  • 5% goes to the Community Reserve balance
  • Users can receive their share of Community Reserve SPRT tokens once their account is fully withdrawn and all their ECO tokens are unstaked.

The Secret Sauce: An Endlessly Finite Economy

The EcoFi protocol is designed to equitably disburse value among system participants through a unique infrastructure hinging on Infinite Scarcity, made possible due to the unique properties of EcoFi’s distribution mechanism. This is achieved by staking ECO tokens through the EcoFi protocol to mint SPRT tokens.

SPRT is unique, in that it features an endlessly finite supply. Every time SPRT tokens are exchanged for a good or service in the EcoFi marketplace, such as in the HYPEROBJECT Fine Art Gallery, half the SPRT tokens are burned. Burning SPRT at every economic gateway safeguards against the type of excess that ultimately drives down value, effectively eliminating the drawbacks associated with the standard economic practices of recirculation. This gives the staking platform the capacity to scale upward or downwards with the market based on demand.

SPRT tokens can only be obtained by either staking ECO, or on whatever secondary market arises. SPRT tokens are the exclusive means through which a number of goods and services can be accessed in the digital marketplaces connected to the EcoFi platform.

An Open Source Marketplace

Building the foundation for digital marketplaces means taking into account the needs of users and those who wish to set up their own storefronts. To make EcoFi’s marketplace the most accessible, the founders are creating an open source framework which anyone may follow to launch their own digital storefront.

The first such participant to launch on EcoFi is the HYPEROBJECT Fine Art Gallery, comprising the first ever instance of NFT’s tethered to physical art that represent fractional ownership of that real world art. It is our hope that more marketplaces will come to follow in the footsteps of the HYPEROBJECT Fine Art Gallery, and our dev team continues to build on platform stability to facilitate this.

Where We Are Today

Currently we are on the cusp of putting the finishing touches on the EcoFi staking contract, which ECO holders may access through the EcoFi website on a W3C compatible browser, in order to stake their ECO tokens and earn SPRT.

Following the launch of the staking contract, we anticipate the grand opening of the HYPEROBJECT Fine Art Gallery.

Once the platform is stable enough, we will then launch the EcoFi Marketplace Hub — HYP.ECO — an accessible secondary marketplace designed to host a wider array of digital assets or physical assets beyond fine art.

The EcoFi founders have the best interest of the community in mind, and are committed to turning over the reigns of the platform to the community. Once sufficient platform and marketplace stability is achieved, the founding keys will be burned, and the helm of the EcoFi platform will be steered by the community in the form of a Decentralized Autonomous Organization-based governance model.

Don’t be left behind. Join the digital revolution today and get in on the tokenized transformation of FINE ART. Start building your NFT collection on HYPEROBJECT.gallery, coming soon to a smartphone near you.

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